Vera Therapeutics (NASDAQ:VERA) PT Raised to $9.00

Vera Therapeutics (NASDAQ:VERA – Get Rating) had its price target increased by Wedbush from $6.00 to $9.00 in a note issued to investors on Friday, The Fly reports. Wedbush’s price objective indicates a potential upside of 18.89% from the stock’s previous close. Wedbush also issued estimates for Vera Therapeutics’ Q1 2024 earnings at ($0.62) EPS, Q2 2024 earnings at ($0.64) EPS, Q3 2024 earnings at ($0.66) EPS and Q4 2024 earnings at ($0.51) EPS.

A number of other brokerages have also weighed in on VERA. HC Wainwright reduced their price objective on shares of Vera Therapeutics from $11.00 to $10.00 in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of Vera Therapeutics from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $7.57 on Friday. The firm has a market cap of $335.06 million, a PE ratio of -2.25 and a beta of -0.52. Vera Therapeutics has a 52-week low of $5.20 and a 52-week high of $23.39. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $7.06 and its two-hundred day moving average is $10.90.

Vera Therapeutics (NASDAQ:VERA – Get Rating) last announced its quarterly earnings data on Tuesday, March 28th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.26). On average, research analysts expect that Vera Therapeutics will post -2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Beth C. Seidenberg bought 48,003 shares of the stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $7.16 per share, with a total value of $343,701.48. Following the completion of the acquisition, the director now directly owns 1,737,383 shares in the company, valued at $12,439,662.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Beth C. Seidenberg bought 48,003 shares of the stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $7.16 per share, with a total value of $343,701.48. Following the completion of the acquisition, the director now directly owns 1,737,383 shares in the company, valued at $12,439,662.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Beth C. Seidenberg bought 10,072 shares of the stock in a transaction dated Monday, February 13th. The stock was purchased at an average cost of $7.20 per share, for a total transaction of $72,518.40. Following the acquisition, the director now owns 1,664,702 shares of the company’s stock, valued at $11,985,854.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 187,282 shares of company stock valued at $1,338,405. Insiders own 22.60% of the company’s stock.

Institutional Trading of Vera Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Vera Therapeutics by 810.4% in the first quarter. Tower Research Capital LLC TRC now owns 4,834 shares of the company’s stock valued at $38,000 after purchasing an additional 4,303 shares during the period. UBS Group AG acquired a new stake in shares of Vera Therapeutics in the first quarter valued at about $47,000. Legal & General Group Plc lifted its stake in shares of Vera Therapeutics by 274.8% in the second quarter. Legal & General Group Plc now owns 4,898 shares of the company’s stock valued at $67,000 after purchasing an additional 3,591 shares during the period. Virtu Financial LLC acquired a new stake in shares of Vera Therapeutics in the first quarter valued at about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Vera Therapeutics in the third quarter valued at about $107,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

About Vera Therapeutics

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Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases in the United States. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase IIb clinical trial for patients with immunoglobulin A nephropathy.